Nike's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Nike NKE.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NKE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 19 uncommon options trades for Nike.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 36%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $254,452, and 14 are calls, for a total amount of $1,594,254.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $100.0 for Nike during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Nike stands at 2068.75, with a total volume reaching 5,662.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Nike, situated within the strike price corridor from $40.0 to $100.0, throughout the last 30 days.

Nike Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Nike

Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales. Its brands include Nike, Jordan (premium athletic footwear and clothing), and Converse (casual footwear). Nike sells products worldwide through company-owned stores, franchised stores, and third-party retailers. The firm also operates e-commerce platforms in more than 40 countries. Nearly all its production is outsourced to contract manufacturers in more than 30 countries. Nike was founded in 1964 and is based in Beaverton, Oregon.

In light of the recent options history for Nike, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Nike's Current Market Status

• Trading volume stands at 3,094,162, with NKE's price down by -1.39%, positioned at $77.32.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 16 days.

Expert Opinions on Nike

In the last month, 5 experts released ratings on this stock with an average target price of $94.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Guggenheim downgraded its rating to Buy, setting a price target of $110. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Nike with a target price of $80. * An analyst from Citigroup downgraded its action to Neutral with a price target of $72. * An analyst from BMO Capital persists with their Outperform rating on Nike, maintaining a target price of $95. * An analyst from Jefferies has elevated its stance to Buy, setting a new price target at $115.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nike with Benzinga Pro for real-time alerts.